Family pays $4m for private holiday house
A BEACHFRONT property in Suffolk Park sold for $4 million in mid-January.
The former holiday rental ‘Sunblessed’ on Alcorn Street grossed $150,000 per year for its previous owners.
However, the new owners plan to keep the place to themselves. A family from Brisbane will use it as a private holiday house, sharing it with close friends and relatives.
The beautiful four-bedroom, four-bathroom house will be an ideal getaway venue for the family, consisting of two grandparents, three adult children and their kids.
The land value of the 1050 sqm property has surged since its first valuation date in July, 1987 when it was worth $60,000.
It has more than doubled in value since 2007 when it sold for $1.6 million.
Since then the house has been upgraded.
“When it was built, it was the best house on the street,” agent Ian Daniels said.
The property was listed on the market for 250 days before it was sold on January 17.
Mr Daniels said the mansion was perhaps too roomy for many of the prospective buyers.
“A lot of people are looking for a smaller beach house – sometimes they’ll pay more for a more intimate place,” Mr Daniels said.
He sold a similar beachfront property down the road on McGregor Street for just over $4 million two months ago.
Though the median house price in Suffolk Park is $1.25 million, Mr Daniels said you’d be lucky to find a modern home in the area for less than $2.5 million.